Highlights

• Daily active people on Meta’s Family of Apps averaged 3.58 billion in December 2025, up 7% year-over-year.
• Full-year revenue reached USD 200.97 billion, increasing 22% from 2024, with ad impressions and average price per ad also rising.
• Cash, cash equivalents, and marketable securities totaled USD 81.59 billion, supporting planned investments in AI and infrastructure for 2026.

Meta Platforms, Inc. (Nasdaq:META) has released its financial results for the quarter and full year ended December 31, 2025. CEO Mark Zuckerberg stated, "We had strong business performance in 2025. I'm looking forward to advancing personal superintelligence for people around the world in 2026." The report highlights growth across user engagement, advertising, and financial metrics, and outlines the company’s 2026 outlook, including planned capital expenditures of USD 115–135 billion to support both Meta Superintelligence Labs and core business operations.

User Engagement and Advertising Trends

During December 2025, Meta’s Family daily active people (DAP) reached an average of 3.58 billion, marking a 7% year-over-year increase. Ad impressions across the Family of Apps rose 18% in the fourth quarter and 12% for the full year compared to 2024. Meanwhile, the average price per ad increased by 6% in Q4 and 9% for the full year. These metrics highlight consistent user interaction and advertising performance across Meta’s platforms.

Revenue and Expenses

Meta’s revenue for the fourth quarter of 2025 was USD 59.89 billion, while full-year revenue totaled USD 200.97 billion, up 24% and 22% year-over-year, respectively. On a constant currency basis, revenue would have risen 23% for Q4 and 22% for the full year. Total costs and expenses for the quarter were USD 35.15 billion and USD 117.69 billion for the full year, reflecting increased investments in infrastructure, cloud services, and employee compensation. Capital expenditures reached USD 22.14 billion for Q4 and USD 72.22 billion for the year.

Cash Position and Shareholder Returns

As of December 31, 2025, Meta held cash, cash equivalents, and marketable securities totaling USD 81.59 billion. Cash flow from operating activities was USD 36.21 billion for Q4 and USD 115.80 billion for the full year, with free cash flow of USD 14.08 billion and USD 43.59 billion, respectively. The company repurchased USD 26.26 billion of Class A common stock during 2025 and paid USD 5.32 billion in dividends and dividend equivalents for the full year. Long-term debt stood at USD 58.74 billion at year-end.

Outlook for 2026

For the first quarter of 2026, Meta expects total revenue in the range of USD 53.5–56.5 billion. Full-year 2026 total expenses are projected at USD 162–169 billion, primarily driven by infrastructure investments, including cloud services and depreciation, as well as employee compensation for technical talent. Capital expenditures are expected to range from USD 115–135 billion, supporting both Meta Superintelligence Labs and core business operations. Operating income for 2026 is projected to exceed 2025 levels, with an anticipated tax rate of 13–16%.

Meta shares traded at USD 668.73 per share at the time of writing on 28 January 2026. In after hours trading, stock price jumped 6.64% to USD 713.12.